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tim cook about the new map app disaster. would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at oil prices here, crude prices are still down today, but what a quarter it has been. all the worries about the tensions between iran and israel with those iran sanctions going into effect at the beginning of this quarter also helping to boost. the big story this quarter, and certainly today, has been gasoline. despite the fact that normally we see prices starting to come down during this quarter, they have actually ratcheted up the best quarter we've seen in years. today we had a huge explosive short move at the end of the day, maria, that really, really punctuated the problems we're seeing
's future without his close friend steve jobs. and interview you won't want to miss. joining us coming up. meanwhile, let's look that the reversal on wall street. yes, we closed lower, but it was well off the lows of the afternoon. the dow jones industrial average down 0.25% this afternoon. a come back in apple, a handful of technology names. nasdaq finished positive, reversing its earlier losses with a gain on the session of 6 1/2. the s&p 500 also higher on the session. there's a look at treasuries here with yields fractionally higher on the day. as you can see there, yields moving lower and the price moving higher, pardon me. let's get straight to the markets and talk about investing in this environment. gentlemen, good see you. thank you so much for joining us. dan, let me kick this off with you. what do you think happened at end of the day today? seems this market has been trading on some worries last several sessions. yet, we did see some optimism at end of the day. >> absolutely. it's a case of perhaps, you know, still do not fight the fed. what we were watching specifically was ap
steve sedgwick following the story in thmadrid, but firs out to stefane in paris. it sounds like there will be a contrast with the spanish budget. it's tax hikes that seem to be the focus. >> in france it will be focus on tax hikes. that's the decision about to be announced by the french government. basically 20 billion euros in additional taxes in the budget for the next year. and only 10 billion euros in spending cuts. that's the plan to reach the deficit target. that's the best case scenario because the budget is based on a growth assumption of 0.8% which seems to be far too optimistic. plenty of private economists believe the french economy won't grow more than 0.3% next year. in that case, the government will need to find an additional 5 feweuro of spending cuts on t of what will be announced today. the budget will include one very symbolic measure, new tax rate of 75% for people earning more than 1 million euros per year. it will be implemented only on around 2,000 people and it will raise only 200 million euros. so that's a symbolic measure that the prime minister has been
a moment and then he'll take some questions. meantime our senior economics reporter steve leisman has been monitoring those remarks. you saw, steve, what struck rick as the standout point. what strikes you? >> well, not that. what rick put up there on the full screen was pretty much word for word what the fed said in the statement last week or when the med meeting was held. that's been known by the market. what bernanke's doing is something i guess he's been inclined to do individually, but also has to do professional as chairman because of the unique fed policy that's out there right now. didn't have to -- used to be that a fed chairman felt compelled to go out there and really sell his policies to the public. but because this fed is so much in the political crosshairs, because things the fed has done have been so unique, so unconventional, the fed chairman has to go out there and really talk in simple terms to the common man about the policies and try to explain it. there's been a lot of criticism about savers, about the effects of inflation, about the fed monetizing the debt, about the
quite a bit of time on the iberian peninsula. >> at least steve is. we've sent him down there to cover the situation on the ground and the's remarkable because we knew heading into the budget today that we might get some unrest, but i think it survived everyone how soon it began and the scale to which it has spread. speaking of which, protesters gathering in madrid raised their call for the spanish government to resign. demonstrators again clashed with police, which left 64 injured and led to 38 arrests. prime minister rajoy's reforms have proved deeply unpopular. out to steve sedgwick now who is following the story. steve, are we expecting the intensity of the protests to increase? >> i don't think we are. they've made their point in some cases violently. this is another protest scheduled for saturday evening. just have a look at what's going on in the sxaexact area. this is the neptune fountain, this is the heart of the madrid heart and we have the five star hotel that kelly i'm sure you've stayed at many a times. and this is the area which leads up to the congress, to the parliament
for all tax deductions across the board. sure, steve. the upper end people would have a problem across the board. >> i like this idea a lot. i just heard about it an hour ago. but i have always believed as a supply sider that tax deductions and credits are termites in the tax code. if you can cap them, it is a sane thing to do and something that howard dean should like because it is progressive. >> steve, what i want to know, if you are in favor of limiting these kinds of deductions, then how about getting ready of the oil depletion allowance for oil companies? >> i think that is something that every manufacturer gets. that is anexpense. when you are talking about writing off a 2 million home i'm not in favor of that. >> do you realize this is the first time that we have ever agreed on anything? >> you know what, this is the right approach to go, larry. i think that mitt romney has opened up an avenue to pick up in the polls here. this plan is evolving into a flat tax. this one piece has legs to it. it has been out an hour. we can't really say. but what about the enormous cu s s in tax
across the pond on spain. steve sedgwick is in madrid with the very latest. steve. >> reporter: yeah, melissa, thanks very much. a lot of the points you guys just mentioned, very true. we've got an economy in recession, high employment, a vicious housing market which unlike the u.s., which is stabilizing as we just heard, it's still got a couple years till we get to the bottom. we're only down about 25%, some say it needs to be double that before we see stability. the banking crisis, you mentioned as well, and also i think what is the key point as well, task masters. there are task masters everywhere. they're bond markets who want to see vicious reform in austerity if investors are going to buy those bonds. northern europeans, germans and brussels who want to see strenuous action from the government in order to backstop the government with potentially buying of its bonds. herein lies the problem. this is a country that has tried austerity. it's not like greece that's been dragging its feet. lehoy has enacted over 60 billion euros' worth of reforms, over 2 1/2 years to 2014. and the p
get a preview with our market panel right now. keith springer with me along with steve wood and mandy drury. thank you for joining us. let me get your take, steve. on the jobs report on friday, what should we expect? >> i think it's going to come in lighter than the adp. the adp has been a poor indicator of the jobs number. i think there's a reason the fed gave us qe-3, because they saw the softness in the labor market. i think it could come in a little on the weak side. more importantly, the official jobs number is the revisions backwards. they've been going back through previous months and knocking down those numbers. i think i wouldn't be surprised if it came in a little soft. >> kate, do you agree with that? if so, is this priced into the market? >> yes, absolutely priced in, maria. great question. what they're going to expect is for it to be terrible. if it isn't terrible, we'll see a rally. what matters most to this market is earnings. we're in pre-earnings disappointment season where we're going to float a little bit until earnings come out. we've seen a friend where earnings h
that is wrong. steve bomber before bill games was viewed as a suit. steve jobs was viewed as bono. you don't want to spend anytime with the microsoft guys and i know steve. i sat next to him at a reunion. but when you read walter isaac son's by of fee of jobs. he was a man, and everyone wanted to hang with him because he was the coolest man in the room. meanwhile, google is the logical heir to apple. go google has the momentum you could have on your cell phone and that is why the stock is going higher. the gee fault go to tech name is google. it is the financial equivalent over who is cool. google is and microsoft isn't. which is why google up here is the one to own. stay with cramer. in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male an
the value of cool. here is why that is wrong. steve ballmer before bill gates was viewed as a suit. steve jobs was viewed as bono, bond and beethoven. you don't want to spend anytime with the microsoft guys and i know steve. i sat next to him at a reunion. but when you read walter isaacson's biography of jobs. he was a man, and everyone wanted to hang with him because he was the coolest man in the room. meanwhile, google is the logical heir to apple. google has all the monetizing momentum you could have on your cell phone and that is why the stock is going higher. the default go to tech name is google. it is the financial equivalent of a judgment over who is cool. google is and microsoft isn't. the gulf is growing, which is why google up here is the one to own. stay with cramer. >> reports after the bell. i tell you i do not comment or recommend stocks on a takeover basis. it is going to send sprint further down. jim, are you abandoning sprint?
couldn't. i looked at jim furyk and watching how many times he backed -- steve stricker towards the end, no, i didn't think about it. and even tiger. probably would have helped if he hit that little four footer so that it was 14-14 at least we wouldn't feel bad. >> yeah, that was quite gray issue gracious. that match probably deserved to be tied. >> and that putt at the end was weak. and he still had the smile on his face, the weird smile. but that was sad. anyway, anything else going on? there really isn't, is there? >> i will give and you quick recap because you were talking about the pmis a little bit earlier out of europe. markets are up. green on the board as you can see. advancers outpacing decliners by more than 8:2. dax up 12. cac up five. despite the fact those pmis came in weak, they were actually a slight tick up. even german ones. the french numbers were slightly weaker, too. spain not up quite so much. we heard from bank company popular, desperately trying it avoid having to take official aid.co popular, desperately trying it avoid having to take official aid. stock down 12
, if steve jobs were alive, would he fire tim cook? we'll explore that idea in our boss segment. and we'll go from ford to gm to chrysler with one of the best septembers in years. >>> and we'll take one more look at futures on this tuesday morning after that rally that did happen on the monday that got chopped in the street. '"squawk on the street" will be back in a minute. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 depos
but next on "power lunch," giving an exclusive to our steve liesman. lael brainard, u.s. undersecretary for international affairs, just ahead. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. >>> too europe now, where there is fresh concern about spain and whether and when it might ask for bailout and if so how big it could be. our next guest is part of an exclusive club and knows probably more about the european crisis and how it's impacting our economy than just about anybody. so how exclusive is her access? look at this picture from the g-20 summit two years ago, lael brainard is the key u.s. representati
greece and spain. it's gotten nasty. let's get to spain and today's budget unveiling. steve sedgwick, we have sent him to madrid. it's quieter today, steve, yes? >> this is where all the action was, the neptune fountain where the last couple of nights, especially two nights ago, we saw such hated action with rubber bullets and you can see a little bit of the barricades behind me which are still in place. same people who organized the disputes over the last couple of days, they are potentially having another one on saturday. and so we'll keep coming back until we get what they want. but they're not necessarily going to get what they want because this rajoy government are talking about cutting budgets across the board. ing a fridand the problem with n is not like greece that's the central government that created all the problems. actually it's the people themselves, the developers, the house owners and banks who basicry took on too much leverage and now the central government is being left to try to foot the bill. they're trying to get the deficit down to 4.5% deficit. quite frankly, that
. this is a true gaffe. those who have read the fabulous book would know steve jobs i believe would never put an inferior product in people's hands even if it meant an apple product that he could lay claim to. and this was a major departure. we saw this with microsoft. jobs would make deals with microsoft. he didn't want to make a deal with microsoft but obviously if it was a better product he did it. >> yeah. he did. and people have raised the question as to whether steve jobs was still alive and running the company whether maps would have been released in this state or he simply would have said you stink it stinks you're fired make it better. >> you stink and i don't like you. >> also in the book it was very clear steve jobs had, not had it in for but really watching android, wanting to block that out as a competitor. this was one way of keeping google a competitor off the apple ecosystem and a lot of people on the google side would say dan niles, we talked to him earlier this week, said know what? being locked out of apple ecosystem is not good for google so maybe it was driven by that. a
come one day after spain announced its 2013 budget and steve sedgwick will be joining us live with more on all of that in just a few minutes. france is also announcing its budget plans today. president hollande said that the budget will be the toughest in 30 years. government needs to find about $39 billion of spending cuts or deshl resources to meet its 2013 deficit target. and fitch is lowering its 2012 growth forecasts both for china and india. citing deteriorating outlook of the global economy. so not a great way to start the morning. >> no, not great, but i like seeing what we did -- i saw ge and i was going to tell whoever thinks that we need to kiss up to them still -- >> minority partner. >> they are. but comcast would have been a better -- or we could have done both. and did i see something that it had first quarter, second quarter, third quarter? what do i need in the fourth quarter to get to the 30%? do we hahave that anymore? is that gone? no, they don't have it. >> i saw the dow, s&p and nasdaq. >> what did it add up to? adds up to like 15 or so. >> i just saw for this quar
on this. we have harry melver, steve moore oig and phil reducer. steve, i went off the rails and went off hfr-i was so angry at this wall street news story story. romney tempers tax plan, dialing back his tax code, suggesting that he's going to remove tax deductions from the middle class. he didn't talk a bit about take home pay and lower tax rates. and frankly, i was angry and confused and if i don't get it, i suspect the public may not get it. >> yeah, i watched the show last night, i saw that anger. and i share that anger. you know, look, there's an order rule of politics, either you're on offense or defense. and too much of this campaign over the last month mitt romney has been on defense. he talked about his tax cut plan defensively. he was pulling back on it saying you're not going to get a big tax cut here because every dollar we give in you rate reduction we'll take away a deduction from you. that's not the way it to sell a tax cut. it's putting more money in people's pockets and be inning incentives. i want to see mitt romney that is much more bold and much more confident in his
raised in housing. steve leisman and diana olick are all over the data points. steve, the latest jobs data, is it changing in any way the expectations for this friday's employment report? >> not a lot. economists would like to go from the adp data to higher estimates but it's not been that great over the past couple months. there's a lot of of caution out there among wall street economists. data this morning -- up 162,000 from the private sector. that's a bit better than expectations which were in the 150,000, 155,000 range. in august it was revised down to 189,000. the non-farm payroll estimates. we won't know until friday if that is higher. here's the misses we've had over the past three months. it's been 63,000 heavy compared to the bls private sector report. you can see over the course of the year it's been a little bit on the high side making economists wary about upping their estimates. what has been a little bit on the up side is jobless claims. other data that helped buoy optimism, slightly higher than claims in last month's survey week. the ism jobs manufacturing is at a thre
the u.s. economy is recovering, though. joining us now is steve murphy, a democratic strategist and managing partner at mvar, and gretchen hamill is a republican strategist and executive director at public notice. nice to have you both with us. steve, perhaps you can kick it off for us. what do you think tonight holds? >> you know, here's what barack obama has to do. the debate right now in the campaign is very heavily over economic policy going forward. that's where barack obama wants to focus. he will accuse mitt romney of seeking $4 trillion, $5 trillion in additional tax cuts for the wealthy while raising taxes on the middle class. there will be a lot of talk about that because mitt romney disputes that he would be cutting taxes -- excuse me, raising taxes on the middle class. at the same time, he's challenged. obama's challenge is not to be too cocky. with good reason, he gets cocky sometimes. he's got to be careful that he doesn't is a moment like he had in the new hampshire debate in 2008 where he said hillary is likable enough. he has to avoid that kind of characteristic
to steve in florida. >> caller: boo-yah, jim. >> boo-yah, steve. >> caller: i just wanted to say thank you for everything you do for us people. >> i'm doing my best, thank you for that, it's great that you said it. >> caller: i have made enough money, jim, i moved from pennsylvania to florida this month. >> good for you sunshine. i was talking about doing that judgment the other day, saying you know what? when this gig is over, which may not be for another 40 years, i would move to florida. >> caller: it's beautiful, but my big question is here is winn resorts. we all know winn is twaes $125 stock, but with winn slipping here again, even though they were up a little bit today, with the china stimulus, that's going to help the stock come back up, isn't it? >> i agree with you, i got to tell you winn surprises me that it's down that much. vegas hasn't been that hot. i'm bullish on wynn. that hunt mean it can't go down ten, but i think it does go up 25%. >> bill. >> caller: my question is this, gm is already doing well with china, with the proposed stimulus package they're talking about how d
to the steve miller band. yes, go on, take the money and run before those shares hit the market. >>> time for tweets. we had quite a reaction to our day of atonement show on wednesday which really meant a lot to me many true cra-americans know i do the show for you and i work hard every day to try to do the right thing to help you and your family save. when i get these messages i got to redouble my efforts to ignore the haters and stay true to our mission here. i'm going to share a few of them with you now to kick this off. the first is from john earl bernett who says "to all the @jimcramer naysayers, how many of you admit when you're wrong? kudos to you, jim, great show. from @kay shawn 17 who writes "is there anyone else who would even think of spending one hour admitting their mistakes over the past year besides @jimcramer on "mad money" on cnbc? >> continue to believe what you do for investors is far more valuable than what most people give you credit for. thank you for refusing to be mediocre. last one "do you know what separates you from the rest? you have humility to admit when you
it be symantec or mcafee, that's a place i want to be. don't forget life lock this week. steve in california, steve? >> caller: sunny california beach boo-ya to you from california. >> well, you've got the edge on me. >> caller: right on highway 1. >> all right. >> caller: news corp, they're going to be splitting up maybe. hear that might be a publishing side and entertainment side -- >> 30 bucks, 30 bucks. that's where stephanie link and i think it is headed. she's co-portfolio manager with me. we think there's a $30 number that comes when you break that into the pieces. it's a win. do you yahoo!? i think ceo marisa mayer is what yahoo! needed. i think she has what it takes to turn this company around. particularly when it comes to unlocking value. and the sum of its parts. congratulations, marisa. stay with cramer. >>> coming up, industrial strength, prologis is at the center of the global supply chain. operating a portfolio of distribution centers, warehouses and commercial real estate around the world. tonight, cramer is talking to the ceo to get a real read on the economy. >>> it is tim
're going to stop thinking about firing tim cook. i love that. steve jobs would fire tim cook. he would fire everyone involved in maps and he would berate them in front of everyone. he was not a nice man and yet everyone loved him anyway. >> lifelock posted a little below the range. maybe a little disappointment there. i might be able to see that. certainly one that we're going to watch, a big week for ipos, of course, one of the busiest. berry plastics tomorrow and pretty sizeable deals. >> and one of the things that we need to see is some pulse down here. there was a lot of social media, people got gaffed. any time you see new companies, you think, maybe i should stop shorting goldman sachs and maybe there is a sign of capital formation. p excellent show stopper yesterday. and mark cuban was so great and the destruction of the capital markets. cuban, cooperman, these guys are not idle thinkers. they are the best we have. and high frequency trading has destroyed a lot. >> and suggesting you tax intraday trades 50%, trades less than a minute, 100%, that would cut down on it in a hurry. >> no
? on the technical side, ennis tanner. on the fundamental side, steve cortez. good to have you on the program. thank you so much for joining us today. ennis, let's talk charts. which stock looks better? >> so let's look at barnes & noble first. normally i like to buy strength and sell weaknesses. barnes & noble over the last four years has been between $10 and $25. $10 has been strong support. book value is around $12. i think this is an important support level. i expect barnes & noble to bounce off of that important $10 support area. in contrast, amazon, i think, is at an entry point that's much more dangerous. amazon has been in a much stronger four-year up trend. the four-year chart of amazon from 2008 to 2012 is basically a great bull market. >> good looking chart. >> very good looking chart. normally i'd like this. in the last year, it really has encountered resistance at 250. i think this is a much riskier entry than barnes & noble. >> so you're not of the belief that when a chart is looking this good that it continues to go up. >> normally i do like to buy strength and sell weakness. in this
. >> but the analysts fears came back. >> hold on one second, steve. can we bring up this chart? the s&p and the dow? something just happened. i don't know what it is. we've had a sharp move. >> was the news out of spain really that good? how should you be setting up for q 4. the traders are pulling out all the stops to find your trade. >> hold on, steve. >> karen is hitting the mall for a retail bargain while josh has his eye on the trades. fresh off the trading floor, this is ""fast money.""
schmidt. get over this whole thing. i earlier said steve jobs would never apologize. in fact steve jobs apologized in the past. five years ago he apologized when he cut the price of the iphone back then $200 after it had only been out a few months. he apologized to the original buyers. apologies from the ceo at apple are not completely unheard of. >> what do you think, rob snert. >> my favorite tweet that's been out there. if you've ordered an iphone 5 shipment are being delayed because apple is forcing everyone to use apple maps to deliver them. that's what's going to be happening here. they'll get it together in the though.n it's going to take google's got a big head start. >> i postponed transferring over to the new operating system. >> me, too. >> i haven't bought mine yet. i'm in the clear. i'll get back to hq all by my little self. >>> 35 years after his disappearnce, a lot of folks still want to know apparently where jimmy hoffa's body might be buried. giants stadium, perhaps? a florida swamp? or as new reports indicate under a driveway in suburban detroit. now bob i'm going to s
on this one. you think of people like steve balmer, jim cramer. >> but there is science behind this. >> more testosterone. >> it's the testosterone that kills the hair. you're more aggressive. you're an aggressor. >> how do you keep your hair? >> if zucker was still -- i would be nicer, he has a full head of hair so i'm not afraid right now. if some guy who is unfortunately is bald happens to end up in a powerful position, it's not because of being bald, it's in spite of being bald. toupees look like crap. you can't buy a decent toupee. >> rarely bald anymore. maybe works in business, not in politics, i don't know. kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global
today. meanwhile steve hester has called for banks to readjust back to a more customer focused approach. speaking at the london school of economic, he said lenders need to restore good customer service to regain trust of the public and rbs is the poster child for what went wrong in banking. and eric snyderman is suing jpmorgan. the suit partly the result of a federal mortgage task force formed in january. investors lost around $22 billion and more than 100 securities. jpmorgan says the suit involves actions taken at the behest of the u.s. government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how sdw this get resolved? >> well, i haven't heard that sister, but that'
largely on valuation. microsoft's 15% year-to-date gains. and steve grasrg and citigroup was downgraded at sterne agee. a little stall because of concerns about windows 8 and whether or not it's going to be robust. q3 could be a make-or-break quarter for them. "the journal" points out, there's no place to try out the new tablet. are you going to buy a tablet just on blind faith without trying it out? >> tiff beta. it's quite exciting. but excitement doesn't necessarily equal sales. there was a downgrade of nokia saying the windows 8 operating system, not good for phones. intel seems to have lost its way with that 4% yield being the only reason to be in it. the desktop -- i feel very triceratops here with this. >> how about the story in "the times" over the weekend about meg whitman? >> they still make a lot of them. but the question is, is it really a business you want to be in? >> do you remember scm? >> yes. >> smith corona mar chant. they were making electric typewriters like they were going out of style. >> that "times" story, not a lot that we didn't already know in terms of what h
? big tax -- >> coming up next, my pal steve meister. are you expecting just as an ordinary person who writes the occasional column and follows the politics, do you think we're going have a big smacking huge tax hike after the election, do you think the so-called tax cliff we're all going to fall into it? >> we're at this fiscal cliff, obama is going to engage in this class warfare his entire four years and he has sees it as taking from the rich to give to the poor. although it's obviously just transgenerational stuff he's engaged in. romney has got to come out with significant, permanent tax cuts. that's the supply side. >> i remember the '80s, i remember the 1980s. >> you will see lots of them coming up, david goodfriend, robert costa and having them rent apartments in new york city. that's it for this evening's show. i'm kudlow, thanks for watching. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know mo
that microsoft propagated opting for a closed system to be controlled by one man, steve jobs. one look at the market capitalizations shows the wisdom of jobs' position. more important for this matter is the fact that microsoft's customers ended up in a business that reminds me of the uncoded free sheet paper business, the commodity where there can be no value added. yes, they, the customers, the dells and hewlett-packards, are the true losers of the bill gates movement. hewlett-packard isn't just personal computing but it's printing and consulting. i loathe the printers. as far as consulting goes, take a look how well their competitors are doing. the companies i work for, i pray they see the light and go apple. hewlett-packard is a huge company with quite a hold on the tech budgets of big corporations. but the company will eventually will ripped out of the enterprise. you can't have something that young people hate prevail forever. funny thing, younger people, they get older. and they take the reins from the relics who jammed dell and hewlett-packards down our throats. so good luck to
. there are lots of theories about what triggered the price rise. as steve kroft reported in 2009, many people believe it had more to do with wall street speculation than with oil companies. >> to understand what happened to the price of oil, you first have to understand the way it's traded. for years, it's been bought and sold on something called the commodities futures market. here at the new york mercantile exchange, it's traded alongside cotton and coffee, copper and steel by brokers who buy and sell contracts to deliver those goods at a certain price at some date in the future. it was created so that farmers could gauge what their unharvested crops would be worth months in advance, so that factories could lock in the best price for raw materials and airlines could manage their fuel costs. but in late 2007, that market started to behave erratically. and when oil doubled to more than $147 a barrel, no one was more suspicious than dan gilligan. >> we have to make sure that the futures market is an honest market. >> as the president of the petroleum marketers association, he represents more t
. it's steve mostin. 2.2 puts him as the top donor. that's more than one-tenth of the amount. now, he's a trial lawyer in houston. he made a fortune from hurricane lawsuits. he's opposed, no surprise, to tort reform and caps on jury awards. he's going head to head with fellow texan romney supporter bob perry. he's the number two romney donor. he helped fund a group that distributed a flyer attacking mostyn. he fought back with a anti-perry website. seems that even the donors now are behaving more like the politicians that they support. back to you. >> pretty amazing, robert. you know, money has been talking. it's not just for the presidential candidates, right? you're also seeing money talk for, you know, changes in the house and senate. >> yeah, and, you know, the amount of money in this election, this will be by far the most expensive election ever. the unlimited amount that people can now spend, you know, whether this makes a big difference -- if romney loses, people will say super pacs didn't make a difference. if he wins, they'll say it was a deciding factor. i think the jury is
-driven product cycle, that's what i believe when cypress semi was a buy. one unbelievably good steve jobs biography, i would have told you how wrong that was. what else? how about for the sin of not forgiving cirrus logic for a miss right before one of the greatest runs i've ever seen. the sound component maker for apple. what a mistake that was. left a lot on the table. just as you can't be in favor of a component that doesn't have apple as a client, you can't bet against one that does. excuses after excuses after excuses for failure, that someone, ceo of miracle grow, don't come on a television and explain how the critics are all wrong and turn around and admit they're right by issuing a hard earnings report soon after. for the sin of thinking that a company had changed its stripes when it was only the ceo saying it had done so. that's what happened in devin energy, which i thought was becoming a much more oily company, but it's truly another natural gas play that wasn't ready for the glut. at least take it like southwestern energy which never pretended it was anything other than a nat
attributed part of the rally to what chicago fed bank president charlie evans told our steve liesman this morning on cnbc. listen. >> in my opinion, we'd continue with the asset purchases until we see payroll employment more like 200,000, 250,000. >> you're saying continue at 85 billion into all of 2013? that would be your recommendation? >> this is my recommendation. >> so is the fed's bond buying spree fueling the markets and should we be worried it won't last? that's what we're talking about right now. eric is with us of gerring wealth management. he says yes. gary clark says be defensive knew, expect a rally after the election. thanks for joining us. harry, why do you expect a rally after the election? we'll get nr clarity then? >> that's one thing. the uncertainty is the death of the market. i think we're going to get a correction first. the market is tired. the tired gain of last month was two days. ecb day and qe forever day. that's not good for the markets. the market needs a correction. think now anywhere from 5% to 8% will do it. a lot of money out there waiting to get in t
. >> steve and rick, get along, would you? okay. where were we, maria? how's san francisco? >> everything's good. it's gorgeous here. i didn't realize how hot it would be. we're following the oracle story. they made some big announcements here about the cloud. we have a market that is about to really focus on fundamentals, i think. >> we were down about 90 points at the low. the dow is down 66 now with about 55 minutes to go today. >> don't go anywhere. we've got much more ahead on this huge edition of the "closing bell." >>> coming up, shooting from the lip. outspoken and controversial former yahoo! chief carol barts weighs in on the future of the tech giant and whether it's heading in the right direction. >>> plus, the oracle of oracle. maria sits down for an exclusive interview with larry ellison. what game changing products does the firm have in the pipeline, and what will the free-spirited ceo buy next? find out straight ahead. >>> and class action. in another exclusive, the man in charge of settling claims against convicted sexual offender jerry sandusky talks to maria about how pen
-cabrera will talk about some of the bad pigs in a minute, but first senior economics reporter steve liesman with the story of some vindicated doves. >> because the new game is called "bad piggies." that's where we're coming from. >> and we're only doing this because the producer jason gawertz made us do this. he said could we think of an app that would apply with today's data and i did. it's called vindicated doves. at least initially here, why is that? because essentially the economic data came in weak. let me show you what the economic data showed. the numbers come in you're looking for 5.6% positive -- or negative. you get minus 13.2 off a prior 3.27%. i think the dove says i don't care i had this one right. gdp took .4 off the prior print right there. midwest manufacturing down negative. p and pending home sales much changed from the prior month from positive to negative. take a look at some of the comments here. vindicated doves. anyone facing doubt about the need forred 23ed's recent stimulus must surely be silenced by the surprising weakness of the data coming out of the u.s." anothe
. >> steve liesman has an interview with chicago fed president charlie evans on "squawk box." whether comments from fed officials be able to swing things around bearing in mind we've basically committed now every month to spending whatever it takes? >> no, i think they're committed. we want to hear essentially getting to congress a message that says our job is done. it's now up to you to make sure that fiscal policy sets a growth agenda that makes sense. that's what's missing in this equation. >> jack, good to see you. thanks for that. if you see any slightly bruised and feeling worse for themselves european golf fans, just point them to bed or something. we'd appreciate that. thanks for that, jack. good to see you. that's it, we'll leave and you look at u.s. futures. coming up next, "squawk box." we hope you have a profitable day. #. >>> welcome to the first day of the fourth quarter. factory data out of europe, what are calling an inevitable new recession. in the u.s., investors are preparing for friday's jobs report and barack obama and mitt romney are hunkering down for debate pre
. this is about qe-7 or 8, i have been riveting all morning. what mr. zells said is similar to what steve jobs said before passing away. this is a country where it is just too hard to do business in. >> yeah. i was going to say, you're not much of a golfer guy but a tennis guy, right? >> ryder was just a collapse. >> yeah. we let pollster on -- for me it was going to a shrink or something. it was come peopling but my heart was racing, i had butterflies in my stomach and didn't think it could happen. when it did, i felt hollow after it. >> i had a bunch of guys going to the eagles/giants game. you would have thought either of the games would have been talked about. the ryder cup is all i heard about. people felt bad for america. it was a patriotic thing. >> for one eagle moment, i just thought, i don't know, ma lays, i thought, we can't do this right. >> if they come in with cardigan sweaters the next time we see the golfers with the cardigan and have to start talking about turning down the thermostat, it is pool game over. >> all right. jim, thank you. we'll see you in a few minutes. >>> all r
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